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  • Animoca Brands and Brinc Partner to Launch $30 Million Program

    Animoca Brands and Brinc Partner to Launch $30 Million Program

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    Animoca Brands announced today that the company has formed a collaboration with Brinc, a Hong Kong-based leader in global venture acceleration, to launch a $30 million program.

    Dubbed ‘Guild Accelerator Program’, the newly introduced program will facilitate the expansion of the global play-to-earn guild ecosystem. Moreover, it will provide funding of up to $500,000 per guild. According to Animoca Brands, the application for the program, led by Richard Robinson, is now open.

    Through the program, early-stage companies will be able to receive support from different mentors and experts, including Brendan Wong (the Founder of Avocado Guild), Saruboti Sasuke (the Head of Partnerships for YGG), and Howard Xu (Co-Founder of the Vietnam-based guild, Ancient8).

    Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands, commented: “As the world enters a new era of work and play, the play-to-earn guilds space has enormous potential for growth. The management of digital assets in games and in the open metaverse represents a significant source of income for hundreds of millions of people. The future of work in the metaverse is being written today, and we are proud to foster the guilds that are driving the evolution of these new opportunities.”

    In December last year, the digital exchange, Binance established a partnership with Animoca Brands to set up a $200 million fund. Through the fund, the companies are facilitating blockchain gaming projects on BSC.

    Blockchain & Gaming

    Blockchain-based gaming platforms have gained immense traction in the past few months, thanks to the growing interest in Web3, Metaverse and crypto. Manav Gupta, the Founder, and CEO of Brinc, believes that the latest partnership will support promising communities.

    “Web3-enabled guilds provide an onramp for the future of earning in a way that Web2 and traditional industries never could. The technologies, principles and business models developed in gaming that have enabled true digital asset ownership and utilization (with aligned stakeholders) can be leveraged across all future areas of jobs and work,” Gupta said.

    Animoca Brands announced today that the company has formed a collaboration with Brinc, a Hong Kong-based leader in global venture acceleration, to launch a $30 million program.

    Dubbed ‘Guild Accelerator Program’, the newly introduced program will facilitate the expansion of the global play-to-earn guild ecosystem. Moreover, it will provide funding of up to $500,000 per guild. According to Animoca Brands, the application for the program, led by Richard Robinson, is now open.

    Through the program, early-stage companies will be able to receive support from different mentors and experts, including Brendan Wong (the Founder of Avocado Guild), Saruboti Sasuke (the Head of Partnerships for YGG), and Howard Xu (Co-Founder of the Vietnam-based guild, Ancient8).

    Yat Siu, the Co-Founder and Executive Chairman of Animoca Brands, commented: “As the world enters a new era of work and play, the play-to-earn guilds space has enormous potential for growth. The management of digital assets in games and in the open metaverse represents a significant source of income for hundreds of millions of people. The future of work in the metaverse is being written today, and we are proud to foster the guilds that are driving the evolution of these new opportunities.”

    In December last year, the digital exchange, Binance established a partnership with Animoca Brands to set up a $200 million fund. Through the fund, the companies are facilitating blockchain gaming projects on BSC.

    Blockchain & Gaming

    Blockchain-based gaming platforms have gained immense traction in the past few months, thanks to the growing interest in Web3, Metaverse and crypto. Manav Gupta, the Founder, and CEO of Brinc, believes that the latest partnership will support promising communities.

    “Web3-enabled guilds provide an onramp for the future of earning in a way that Web2 and traditional industries never could. The technologies, principles and business models developed in gaming that have enabled true digital asset ownership and utilization (with aligned stakeholders) can be leveraged across all future areas of jobs and work,” Gupta said.

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  • MRHB DeFi Closes Successful USD5.5M Fundraise with IDO and Announces 5 Million Pool of MRHB Token Rewards for Liquidity Providers | by Bit Media Buzz | Dec, 2021

    MRHB DeFi Closes Successful USD5.5M Fundraise with IDO and Announces 5 Million Pool of MRHB Token Rewards for Liquidity Providers | by Bit Media Buzz | Dec, 2021

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    Bit Media Buzz

    Melbourne, Australia, December 31st, 2021 — The world’s first ethical and halal DeFi ecosystem platform MRHB DeFi officially concluded its successful fundraising with its final public IDO rounds on DODO and ZeeDO launchpads, altogether raising a total of US$5.5 million with around 85% coming from a global community of investors looking for an ethical and halal entry into the cryptoverse.

    Immediately following the close of the IDO, the MRHB token was listed on the popular DEX PancakeSwap, a leading decentralized exchange on Binance Smart Chain (BSC). For the very first time, early supporters of the project were able to trade and swap their MRHB tokens.

    5 Million Pool of $MRHB Token Rewards for Liquidity Providers

    Instead of standard buy/sell order books, Pancakeswap uses the Automated Market Maker (AMM) model where trades are done through a ‘Liquidity Pool’ whereby users invest funds (become Liquidity Providers or LP’s) to the pools to facilitate swaps.

    MRHB DeFi has now announced that over the next three months, $MRHB token holders can become Liquidity Providers on PancakeSwap and earn their share of the pool of 5,000,000 MRHB token rewards.

    The following MRHB/USDT liquidity pool has been set up on PancakeSwap, and MRHB Rewards will only apply to this pool:

    Liquidity Providers to the pool can earn in two ways:

    1. By supplying liquidity to the pool, the liquidity providers earn transaction fees on PancakeSwap as profit. The total trading profits made will be divided among the LPs, proportional to the amount of funds contributed and the amount of time funds are invested in the pool.

    2. In addition, MRHB DeFi will offer a reward to the LP investors on condition that they invest funds into the pool at any point during the three month loyalty period. The $MRHB token reward pool will initially begin at 5,000,000 to be shared among the LP token holders. The number of tokens awarded will change over time but will be visible on the MRHB Reward Dashboard (https://rewards.mrhb.network/). Investors can withdraw their funds at any time.

    As an extra incentive for LPs, MRHB DeFi has announced that LP’s who lock their tokens for the full 90 days in the pool will have the right to claim an NFT from the first collection at their Souq NFT marketplace. Souq NFT is the first anti-NSFW NFT marketplace in the world that is focussed on creating an ethical and halal marketplace for digital art and other NFT assets.

    MRHB DeFi has provided more detailed instructions on how to be Liquidity Providers in the following videos:

    A Conditional ‘Hibah’ Gift

    The LP token rewards are defined as a conditional gift (‘hibah muallaqah bi al-sharth’) that is provided by a third party, permissible according to the Islamic Fiqh. Since there is no (bilateral) exchange contract or transaction between MRHB DeFi and LPs (liquidity providers), MRHB DeFi is considered a third party and is providing the rewards as a gesture of appreciation to their loyal supporters.

    As the share of rewards depends on various factors such as the number of providers and amount of time invested, such LP rewards are not fixed, although they will be stated at the time the tokens are invested into the liquidity pool.

    Such rewards must also be considered together with the price movements (Impermanent Loss) of the MRHB token to assess the overall return to the token holder should they withdraw their funds from the liquidity pool.

    Reminder for Vigilance

    The correct MRHB DeFi contract address for the $MRHB BEP20 Token is as follows:

    https://bscscan.com/address/0xd10332818D6A9B4b84bf5d87DbF9D80012FDF913

    MRHB token holders are reminded to be vigilant against scammers and fake addresses and should exercise caution whenever participating in transactions. Only the following official channels contain the most current and accurate information about the developments of $MRHB.

    MRHB DeFi Official Channels

    MRHB Reward Dashboard: https://rewards.mrhb.network

    Website: https://marhabadefi.com

    Twitter: https://twitter.com/marhabadefi

    Telegram: https://t.me/mdf_official

    Telegram Announcements: https://t.me/marhabadefi_ANN

    YouTube: https://www.youtube.com/channel/UCHuvZG9DbS5ffeoqLX_bERg

    Medium: https://medium.com/@mrhbdefi

    LinkedIn: https://www.linkedin.com/company/marhabadefi

    Facebook: https://www.facebook.com/MRHB-DeFi-105893235209147

    Telegram (Arabic): https://t.me/mdf_arabic

    Telegram (Russian): https://t.me/marhabadefi_russia

    Telegram (Turkish): https://t.me/MarhabaDefiTR

    Telegram (Persian): https://t.me/mrhbdefi_persian

    Telegram (Urdu/Hindi): https://t.me/MRHBDeFi_Urdu_Hindi

    About MRHB DeFi

    MRHB DeFi is a halal, decentralized finance platform built to embody the true spirit of an “Ethical and Inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full empowerment potential of DeFi.

    The diverse team comprises researchers, technocrats, influencers, Islamic fintech experts & business entrepreneurs, who came together to ensure that MRHB DeFi prevails in a manner that will impact society as a whole, essentially bridging the gap between the faith-conscious communities and the blockchain world.



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  • Kraken Ventures Secures $65 Million to Support the Crypto Ecosystem

    Kraken Ventures Secures $65 Million to Support the Crypto Ecosystem

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    Leading independent investment fund led by Kraken Alumni, Kraken Ventures today announced that it has secured $65 million for an early-stage fund to invest in companies working in the global crypto and financial technology (Fintech) ecosystem.

    Kraken acted as the anchor LP in the latest funding. Additionally, the fund witnessed investment from a wide range of international institutional investors. Kraken Ventures aims to boost innovation in the crypto ecosystem through the support of emerging companies.

    The fund focuses on areas including financial infrastructure, Web3, decentralized finance (Defi), consumer crypto protocols as well as enabling technologies, such as AI and Machine Learning. According to the details shared by Kraken Ventures, it has made several investments in some of the leading crypto companies including Anchorage and Messari.

    “We’re extremely pleased to have successfully closed our first fund,” said Brandon Gath, Managing Partner of Kraken Ventures. “Our long-term view on investing, and the possibility to leverage Kraken’s experience in building a truly global, scalable platform, definitely contributed to the overwhelming interest we received from investors. Our focus now is to put that money to work and help some of the most innovative projects and their exceptionally talented founders accelerate the development of their companies and protocols.”

    Headquartered in Texas, Kraken Ventures has team members in London and New York. The fund makes initial investments in the range of $500K and $2 million. According to the company, its investment strategy is based on the long-term horizon.

    Appointment of Laurens De Poorter

    To expand its presence in Europe, Kraken Ventures recently announced the appointment of Laurens De Poorter as Head of Europe. The newly appointed Head of Europe will be based in London. “The European crypto scene is booming. Deal count doubled in the last two years and continues to accelerate,” said Laurens De Poorter.

    Leading independent investment fund led by Kraken Alumni, Kraken Ventures today announced that it has secured $65 million for an early-stage fund to invest in companies working in the global crypto and financial technology (Fintech) ecosystem.

    Kraken acted as the anchor LP in the latest funding. Additionally, the fund witnessed investment from a wide range of international institutional investors. Kraken Ventures aims to boost innovation in the crypto ecosystem through the support of emerging companies.

    The fund focuses on areas including financial infrastructure, Web3, decentralized finance (Defi), consumer crypto protocols as well as enabling technologies, such as AI and Machine Learning. According to the details shared by Kraken Ventures, it has made several investments in some of the leading crypto companies including Anchorage and Messari.

    “We’re extremely pleased to have successfully closed our first fund,” said Brandon Gath, Managing Partner of Kraken Ventures. “Our long-term view on investing, and the possibility to leverage Kraken’s experience in building a truly global, scalable platform, definitely contributed to the overwhelming interest we received from investors. Our focus now is to put that money to work and help some of the most innovative projects and their exceptionally talented founders accelerate the development of their companies and protocols.”

    Headquartered in Texas, Kraken Ventures has team members in London and New York. The fund makes initial investments in the range of $500K and $2 million. According to the company, its investment strategy is based on the long-term horizon.

    Appointment of Laurens De Poorter

    To expand its presence in Europe, Kraken Ventures recently announced the appointment of Laurens De Poorter as Head of Europe. The newly appointed Head of Europe will be based in London. “The European crypto scene is booming. Deal count doubled in the last two years and continues to accelerate,” said Laurens De Poorter.

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  • Crypto Startup Ramp Raises $53 Million

    Crypto Startup Ramp Raises $53 Million

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    The crypto payment solutions platform, Ramp recently secured $53 million in the Series A funding round to expand its product development. While the demand for crypto assets has increased during the last few months, payments companies have ramped up their efforts to introduce innovative solutions for a seamless crypto payment experience.

    Ramp outlined the importance of regulation in the global financial sector. In addition to approval from the Financial Conduct Authority in the UK, Ramp received approval from the Financial Crimes Enforcement Network (FinCEN) in the United States.

    According to the company, the latest financing will help the expansion of its presence. The Series A funding round was led by Balderton Capital along with participation from existing investors NFX, Galaxy Digital, Seedcamp and Firstminute Capital. Moreover, angel investors Taavet Hinrikus (Wise) and Francesco Simonesci (TrueLayer) joined the round.

    “Just six months after closing our Seed round, we’re thrilled to announce we’ve raised $52.7 million [in a] Series A round, led by Balderton Capital. Four years ago, we set out to build a payments infrastructure application to simplify the exchange of value on public blockchains. During that time, we’ve launched and expanded our on-ramping products and have built an incredible community of partners, investors and customers,” Szymon Sypniewicz, the CEO of Ramp Network, commented.

    “Today, Ramp is a partner to more than 400 developers, including Mozilla, Browser, Dapper Labs (the company behind NBA Top Shot) and top crypto and Defi apps like Aave, Argent, Trust Wallet and Zerion, as well as wildly popular games, Sorare and Axie Infinity,” Sypniewicz added.

    Crypto Startups

    Emerging crypto companies around the world have raised substantial funding in the last quarter. Earlier this week, the crypto firm, Anchorage secured $350 million in funding at a valuation of $3 billion. Recently, the Bitcoin company, NYDIG topped the valuation of $7 billion after a raise of almost $1 billion.

    The crypto payment solutions platform, Ramp recently secured $53 million in the Series A funding round to expand its product development. While the demand for crypto assets has increased during the last few months, payments companies have ramped up their efforts to introduce innovative solutions for a seamless crypto payment experience.

    Ramp outlined the importance of regulation in the global financial sector. In addition to approval from the Financial Conduct Authority in the UK, Ramp received approval from the Financial Crimes Enforcement Network (FinCEN) in the United States.

    According to the company, the latest financing will help the expansion of its presence. The Series A funding round was led by Balderton Capital along with participation from existing investors NFX, Galaxy Digital, Seedcamp and Firstminute Capital. Moreover, angel investors Taavet Hinrikus (Wise) and Francesco Simonesci (TrueLayer) joined the round.

    “Just six months after closing our Seed round, we’re thrilled to announce we’ve raised $52.7 million [in a] Series A round, led by Balderton Capital. Four years ago, we set out to build a payments infrastructure application to simplify the exchange of value on public blockchains. During that time, we’ve launched and expanded our on-ramping products and have built an incredible community of partners, investors and customers,” Szymon Sypniewicz, the CEO of Ramp Network, commented.

    “Today, Ramp is a partner to more than 400 developers, including Mozilla, Browser, Dapper Labs (the company behind NBA Top Shot) and top crypto and Defi apps like Aave, Argent, Trust Wallet and Zerion, as well as wildly popular games, Sorare and Axie Infinity,” Sypniewicz added.

    Crypto Startups

    Emerging crypto companies around the world have raised substantial funding in the last quarter. Earlier this week, the crypto firm, Anchorage secured $350 million in funding at a valuation of $3 billion. Recently, the Bitcoin company, NYDIG topped the valuation of $7 billion after a raise of almost $1 billion.

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  • Cardano Project Flickto Surpasses 1.5 Million ADA Staked One Month After Launch

    Cardano Project Flickto Surpasses 1.5 Million ADA Staked One Month After Launch

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    Flickto has seen tremendous success since its first launch on Nov 1st. The number of delegates on the platform has grown rapidly, as has the volume of ADA staked. Less than one month after launch, more than 1.5 ADA has been staked on its ISPO delegator pool.

    The project is revolutionizing the way that media financing is carried out. Flickto uses the ISPO pool to fund projects through community partnerships. The media launchpad provides creators with the financing they need to produce their content, while simultaneously providing users the ability to earn passive income by way of distribution royalties after the projects are completed.

    Staking In Flickto ISPOs

    Users can stake and earn rewards by staking their ADA and earning Flickto’s native token FLICK. Staking with FLICK tokens gives the user the right to vote for the projects which they would like to see funded. Then when the projects are approved by the broader community via voting with staked FLICK tokens, financing is provided until the project is distributed. At which point users will start earning royalties.

    Users are able to fund projects that will eventually be seen on the big screen in theaters and also on their TV screens. This takes the power over the media industry out of the hands of a few conglomerates and puts it in the hands of the community, completely eliminating the barrier to entry for industries such as this.

    In addition to the rewards from staking FLICK and ADA, participating in voting also earns users rewards. It also makes users eligible for extra rewards, like the just-concluded airdrop that saw two NFTs go to users who have staked in the pool.

    Where Media Meets Blockchain

    Flickto is the first of its kind on the Cardano blockchain and as such has recorded much success since launch. It entered into a partnership with media industry veterans Ben Morris and Geraint Harvard Jones, who serve as advisors to the project. With decades of experience between the two, they will guide Flickto as they navigate the media project financing space.

    Artists from various genres can be selected by the community for financing. Flickto is not just limited to film and TV production. NFT artists and content creators are another example of projects that users can vote on.

    FLICK Private And Public Sale

    Flickto has completed the first phase of its Private Sale round with great success. The next opportunity to acquire FLICK outside of the ISPO is via the upcoming IDO. The private sale gave users the opportunity to purchase the tokens at a low price.

    The Cardano-based project will help accelerate Flickto to provide efficient and transparent crowdfunding services.

    The total supply of FLICK tokens is capped at 5,000,000,000 with a total of 1,000,000,000 FLICK tokens going up for sale in the private sale.

     

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  • Bitcoin bulls risk losing $365 million upon Friday’s BTC options expiry

    Bitcoin bulls risk losing $365 million upon Friday’s BTC options expiry

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    Bitcoin’s (BTC) price action hasn’t been bullish despite the $69,000 all-time high on Nov. 10. Some argue that that descending channel formed 40 days ago is the dominant trend, and $56,000 marks its current resistance.

    BTC/USD price on FTX. Source: TradingView

    Such bearishness follows scrutiny from United States regulators, after a Nov. 1 report from the President’s Working Group on Financial Markets suggested that stablecoin issuers in the U.S. should be subject to “appropriate federal oversight,” similar to banks and savings associations.

    On Nov. 12, the Bitcoin-backed exchange-traded fund (ETF) request was rejected by the U.S. Securities and Exchange Commission. To justify the denial, the regulator cited the lack of ability of its participants to deter fraud and market manipulation in Bitcoin trading.

    More recently, on Nov. 23, the chair of the U.S. Senate Committee on Banking, Housing and Urban Affairs sent notices to multiple exchanges and stablecoin issuers. The questions on consumer and investor protection on stablecoins suggest that lawmakers may be preparing a hearing on the subject.

    Still, bulls might have a different take on such news as stablecoins are by no means necessary for Bitcoin to work. Furthermore, there’s not much that the U.S. government can do to suppress projects and developers willing to relocate outside its jurisdiction.

    Bitcoin options mostly bullish for Friday’s expiry

    Despite the 17% pullback over the past 14 days from the $69,000 all-time high, the Bitcoin call (buy) options vastly dominate Friday’s expiry.

    Bitcoin options aggregate open interest for Nov. 26. Source: Bybt

    At first sight, the $1.9 billion in call (buy) options dominate the weekly expiry by 113% compared with the $885 million in put (sell) instruments. But the 2.13 call-to-put ratio is deceptive because the recent drop will likely wipe out 90% of the bullish bets.

    For example, if Bitcoin’s price remains below $58,000 at 8:00 am UTC on Nov. 26, only $150 million worth of those call (buy) options will be available at the expiry. There is no value in the right to buy Bitcoin at $60,000 or $70,000 if it’s trading below that price.

    Bears can secure a $365 million gain sub-$56k

    Below are the four most likely scenarios based on the current price action. For example, the data shows how many contracts will be available on Friday for both bulls (call) and bear (put) instruments. The imbalance favoring each side represents the theoretical profit:

    • Below $56,000: 720 calls vs. 7,490 puts. The net result favors bear (put) options by $365 million.
    • Between $56,000 and $58,000: 2,630 calls vs. 4,840 puts. The net result is $125 million favoring the bear (put) instruments.
    • Between $58,000 and $60,000: 3,600 calls vs. 3,850 puts. The net result is balanced.
    • Between $60,000 and $62,000: 6,180 calls vs. 2,340 puts. The net result shifts favoring the call (bull) instruments by $230 million.

    This crude estimate considers the call options used in bullish bets and put options exclusively in neutral-to-bearish trades. However, a trader could have sold a call option, effectively gaining a negative exposure to Bitcoin above a specific price. Unfortunately, there’s no easy way to estimate this effect.

    Bulls have double the incentives to defend $56,000

    As displayed by the 40-day descending channel, bulls need to keep the $56,000 resistance to avoid further losing momentum. One must keep in mind that it took less than two weeks to bring Bitcoin from $41,500 to $56,000 back on Oct. 10. Therefore, maintaining this level is crucial to validate Nov. 10’s all-time high.

    Moreover, if bulls manage to push Bitcoin’s price above $58,000, that will save them from a potential $365 million loss if BTC bears gain the upper hand on the back of the regulatory winds. A mere 1.5% drop from the current $56,800 might give bears just enough confidence to instill even more pain.

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.